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New Delhi: Mukesh Ambani-led RIL has made the government a party in its petition before the apex court challenging the Bombay High Court verdict on the gas supply dispute with Anil Ambani group company RNRL.
The Bombay High Court had on June 15 ruled that RIL give gas to RNRL at a price 44% lower than the rate fixed by the government but asked the two sides work out an agreement within a month. In its petition filed a day after RNRL moved the apex court, RIL made the government a party saying the HC had erred in deciding the three terms — quantity, tenure and price of gas supply.
Meanwhile, another Anil group firm, Reliance Capital, has exited RIL by offloading an investment worth Rs 129.88 crore in the shares of the country’s most valued firm.
However, R-Cap continues to hold a little over 1% stake in another Mukesh Ambani group firm Reliance Industrial Infrastructure Ltd (RIIL).
The disclosures have been made in its annual report for 2008-09. The report is being sent to shareholders ahead of its AGM on July 21.
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